The typical owner-occupied home in Clara is worth about $96,700, 43% below the Mississippi median of $169,800 and 71% below the national median of $332,700. Owners pay a median $291 a year in property taxes, about 0.30% of their home's value, lower than the Mississippi rate of 0.72%. The median household earns $30,645 a year, so the median home costs 3.2 times the median income (3.0 times for Mississippi). 100% of occupied homes here are lived in by their owners, and 2% of those owners still have a mortgage.
Clara at a glance
| Clara | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $96,700 | $169,800 | $332,700 |
| Median property tax paid per year | $291 | $1,215 | $3,119 |
| Property tax as a share of value | 0.30% | 0.72% | 0.94% |
| Median household income | $30,645 | $56,447 | $80,734 |
| Homes lived in by their owners | 100% | 70% | 65% |
| Owner homes with a mortgage | 2% | 49% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,394 | $1,963 |
| Median rent | – | $954 | $1,413 |
| Median year homes were built | 1966 | 1986 | 1980 |
| Vacant homes | 0.0% | 14.6% | 10.1% |
| Population | 540 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Clara
At this week's average 30-year rate of 7.11%, buying the median Clara home of $96,700 with 20% down costs about $585 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $746, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $25,066 for the 20%-down payment. That payment is 23% of the median Clara household income of $30,645; at that income and 20% down, the 28% guideline points to a home of about $118,000.
| Down payment | $19,340 |
|---|---|
| Loan amount | $77,360 |
| Principal and interest | $520 |
| Property taxes (0.30% a year) | $24 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $585 |
Change the numbers in the calculator
| Down payment | $3,384 |
|---|---|
| Loan amount | $94,949 |
| Principal and interest | $639 |
| Property taxes (0.30% a year) | $24 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $43 |
| Total per month | $746 |
Change the numbers in the calculator
Questions about home buying in Clara
What is the median home value in Clara?
About $96,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Clara?
Homeowners pay a median $291 a year, which is about 0.30% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Clara?
For the median home with 20% down at 7.11%, the payment is about $585 a month. Keeping that under 28% of gross income takes about $25,066 a year.
More about Clara
- Mortgage Refinance in Clara
- Debt Relief in Clara
- Home Equity Loans in Clara
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data